Benchmark
The Oil Market Just Keeps Tearing Up Draghi's Inflation Forecasts
A 1% inflation average next year may already be too much to hope for
Can Oil Companies Weather the Global Glut?
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The oil market doesn’t seem to care about Mario Draghi’s inflation target.
Less than two weeks after the European Central Bank president unveiled a beefed-up stimulus program to push inflation back toward its 2 percent target, fresh falls in the price of crude may have already undermined his efforts. Analysts at Nomura International Plc and JPMorgan Chase & Co. say Draghi’s December forecast of 1 percent average inflation in 2016 may be too ambitious.